FedEx

FedEx is the world's leading delivery company for overnight packages. It also delivers packages via ground and freight deliveries. FedEx also helps companies with their logistics and supply chain management.

FedEx Express employs
approximately 166,000 employees and has approximately 53,000 drop-off locations (including FedEx Office centers), 647 aircraft
and
approximately 56,000 vehicles and trailers in its integrated global network.

FedEx Trade Networks has approximately 5,000 employees and 150 offices in 128 service locations throughout North America and in Africa, Asia-Pacific, Europe, India, Latin America and the Middle East.

FedEx Ground has 62,000 employees and operates a multiple hub-and-spoke sorting and distribution system consisting of 547 facilities, including 33 hubs, in the U.S. and Canada. FedEx Ground conducts its operations primarily with approximately 47,000 owner-operated vehicles and approximately 48,000 company-owned trailers.

FedEx Freight segment has approximately 65,000 vehicles and trailers from a network of 370 service centers and has 40,000 employees.

FedEx Services has 30,000 employees.

FedEx Office has 1,800 locations and was formerly known as Kinko's.

In fiscal 2015, the company reported revenue of $47.4 billion, up from $45.6 billion the previous year, and net income of $1.05 billion.

The company announced that rates for express and ground delivery will increase by an average of 4.9% in 2016.

History

The company was started in 1971 as Federal Express by Fred Smith, a Yale classmate and fraternity brother of President George Bush. It officially began operations on April 17, 1973, with the launch of 14 small aircraft from Memphis International Airport. On that night, Federal Express delivered 186 packages to 25 U.S. cities from Rochester, NY, to Miami, FL.

Company headquarters were moved to Memphis, TN., a city selected for its geographical center to the original target market cities for small packages. In addition, the Memphis weather was excellent and rarely caused closures at Memphis International Airport. The airport was also willing to make the necessary improvements for the operation and had additional hangar space readily available.

It soon became the leader in delivery of high-priority goods for businesses and air cargo. The term FedEx became a verb for "sending things overnight" and the company took on this name in 1994.

In 2003, FedEx purchased Kinko's copying centers for $2.4 billion. In 2008, the Kinko's name was changed to FedEx Office.